The Noida and Greater Noida authorities on Monday finally adopted the UP Apartment Act of 2010, bringing transactions related to buying houses in group housing societies within a stronger legal framework.
The move, according to officials, will benefit about 5 lakh homebuyers in Noida and 3 lakh in Greater Noida and areas along the Yamuna Expressway--a region whose realty boom has often been overshadowed by confrontations, complaints and litigation between buyers and builders on issues like delivery dates, size of apartments, common facilities and quality of construction.
The Act makes the process of buying homes more transparent with mandatory con sent of each member of a housing society before making alterations and asking a builder to specify the likely date of a project's completion.
In the absence of the apartment Act, developers were harassing buyers.
Now, this Act will help to ensure stringent action is taken against errant developers.
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The move, according to officials, will benefit about 5 lakh homebuyers in Noida and 3 lakh in Greater Noida and areas along the Yamuna Expressway--a region whose realty boom has often been overshadowed by confrontations, complaints and litigation between buyers and builders on issues like delivery dates, size of apartments, common facilities and quality of construction.
The Act makes the process of buying homes more transparent with mandatory con sent of each member of a housing society before making alterations and asking a builder to specify the likely date of a project's completion.
In the absence of the apartment Act, developers were harassing buyers.
Now, this Act will help to ensure stringent action is taken against errant developers.
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